Palouse Capital Management Inc. Sells 5,217 Shares of Newmont Co. (NYSE:NEM)

Palouse Capital Management Inc. lowered its stake in shares of Newmont Co. (NYSE:NEM) by 5.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 86,394 shares of the basic materials company’s stock after selling 5,217 shares during the period. Newmont makes up approximately 2.1% of Palouse Capital Management Inc.’s holdings, making the stock its 15th biggest position. Palouse Capital Management Inc.’s holdings in Newmont were worth $3,216,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Avior Wealth Management LLC increased its position in shares of Newmont by 191.8% during the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 326 shares during the last quarter. Prospera Private Wealth LLC purchased a new stake in shares of Newmont during the 3rd quarter valued at about $28,000. Highline Wealth Partners LLC purchased a new stake in shares of Newmont during the 3rd quarter valued at about $32,000. McIlrath & Eck LLC increased its position in shares of Newmont by 80.6% during the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 361 shares during the last quarter. Finally, HHM Wealth Advisors LLC increased its position in shares of Newmont by 66.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 350 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

NEM has been the subject of several research reports. Cibc World Mkts lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. Bernstein Bank increased their target price on shares of Newmont from $55.00 to $58.00 in a report on Monday, November 11th. CIBC lowered shares of Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. Finally, CLSA began coverage on shares of Newmont in a report on Friday, November 29th. They issued an “underperform” rating for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and a consensus price target of $53.37.

Insider Activity

In related news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $128,670.00. Following the completion of the sale, the executive vice president now directly owns 79,596 shares in the company, valued at $3,413,872.44. This trade represents a 3.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $89,082.53. Following the completion of the sale, the director now owns 49,993 shares of the company’s stock, valued at approximately $2,144,199.77. This represents a 3.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,154 shares of company stock worth $1,166,843. 0.06% of the stock is currently owned by insiders.

Newmont Stock Down 2.4 %

NYSE NEM opened at $46.61 on Friday. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. Newmont Co. has a one year low of $29.42 and a one year high of $58.72. The stock has a 50 day moving average price of $41.01 and a 200-day moving average price of $46.50.

About Newmont

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.